Director of Tax Reporting & Analytics
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Consistent with Allstate Shared Purpose (see attached), the Corporate Tax Department's mission is to provide quality client service to our stakeholders, such as Finance Leadership Team, Business Segments and other stakeholders in terms of tax reporting and analysis to measure the business on an after-tax basis. Operationally, the Corporate Tax Department strives to drive value by building a best-in-class tax department in terms of operational efficiencies, robust controls, high-performing workforce leveraged through data & technology capabilities.
Reporting to the Senior Vice President, Chief Tax Officer, the Head of Tax Reporting & Analytics will direct the financial reporting of Allstate's accounting for income taxes and filing of the federal income tax returns. S/he will provide daily leadership of the Corporate Tax Department federal tax operations including federal tax projections, financial reporting of income taxes, federal income tax return compliance and management of the IRS audit. S/he will lead the tax transformation project which will streamline all tax processes, improve controls and enable the company to move to after tax reporting by specified product lines. Responsibilities will also include participating in tax planning and the formulation, coordination, implementation of Allstate's tax strategy with the objective of optimizing companywide post tax earnings. This position leads a team of 10 to 12 tax professionals.
Financial Reporting & Projection Process
- Directs the GAAP and STAT financial projections and reporting process for tax that meets US GAAP, management reporting, and regulatory requirements.
Effectively manages the external audit process for financial reporting.
Implements and maintain procedures and controls to meet or exceed requirements under Sarbanes Oxley section 404. This includes focus on managing the following:
Monthly, quarterly and annual GAAP and STAT tax provisions (as applicable);
Financial statement presentation /disclosure of tax accounts, together with appropriate footnotes, (e.g., 10-K, 10-Q, NAIC Annual Statements for Insurance companies, Stand-alone Audited Financials, etc.)
Tax assets and tax liabilities on balance sheets.
- Manages the federal income tax return preparation process.
- Directs a well-organized process with good controls for preparing the tax return on a timely basis.
- Accurately documents corporate tax returns with an emphasis on being prepared for IRS audits.
- Efficiently integrates with the provision process.
- Implements and recommends well thought out, tax planning strategies to minimize tax payments within what is allowed by the law.
- Makes quarterly estimated payments for the Company and its Subsidiaries on a timely basis
- Continuously recommends and implements processes that will improve the efficiency and accuracy of compliance related activities.
- Assists in the generation and implementation of corporate federal income tax strategies.
- Identifies tax risks and savings opportunities for federal income taxes. This includes surfacing ideas to reduce the overall effective tax rate and improve surplus that stay within regulatory and tax laws.
- Continually looks for opportunities to improve efficiency in all processes and maintain robust controls that meet specified requirements.
- Leads the tax transformation efforts with the goal of streamlining and building data & analytical capabilities to assist the businesses in understanding tax drivers of after-tax results.
- Provides explanations to the business on tax provisions and after-tax results in a clear logical way to help understand tax issues and opportunities to reduce taxes.
- Promotes open lines of communication to help surface issues and takes advantage of possible planning opportunities.
- Provides the means in a timely way for businesses to better understand how business decisions will influence after tax results.
- Manages the Federal IRS audit process.
- Maintains effective relationships with regulators and negotiates favorable settlements for the company.
- Utilizes industry relationships to understand the IRS' goals in certain audit risks and issues that are pertinent to the industry.
- Functions as a training/learning champion to the Corporate Tax Department to develop a curriculum on various tax technical matters. The development of a curriculum includes preparing the materials on the technical tax issues and applying to the relevancy of Allstate's tax policies and profile.
- Leads a team of 10-12 tax professionals with the drive to serve, develop, and lead future finance talents.
- Minimum of 15 years experience in the life and/or property & casualty insurance industry, or in a tax practice of a major accounting firm working with insurance companies.
- Experience in managing an insurance company federal income tax financial reporting and compliance function.
- Technical expertise and experience in life insurance tax and tax accounting required including application of ASC 740 and SAP 101.
- Tax expertise in investments and partnerships.
- Strong analytical skills and experience in analyzing complex transactions.
- Solid project management, time management, problem solving, and organizational skills.
- Skilled at clearly and succinctly articulating written and oral communications and tailoring it to the specific audience.
- Ability to partner and build strong working relationships with senior management and positively influence decisions.
- Demonstrated leadership skills with strong emphasis on coaching and staff development.
An undergraduate degree in accounting is required; in addition, an advanced degree in taxation, law and/or a CPA designation is a plus.
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
Good Work. Good Life. Good Hands®.
As a Fortune 100 company and industry leader, we provide a competitive salary - but that's just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you'll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.
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Allstate generally does not sponsor individuals for employment-based visas for this position.
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